Bad Brokers

According to FINRA, James Brennan Brown (CRD #6216202) of Albany, Oregon, was barred from association with any FINRA member firm on April 22, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080248801).

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According to FINRA, James Brennan Brown (CRD #6216202) of Albany, Oregon, was barred from association with any FINRA member firm on April 22, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080248801).

A bar under FINRA Rule 9552(h) is the most severe administrative sanction available through the expedited proceeding process and permanently prohibits the individual from associating with any FINRA member firm in any capacity. This means Brown can no longer work as a broker, registered representative, or in any other role at a FINRA-regulated firm. Unlike a suspension, which is temporary, a bar is a permanent prohibition that effectively ends the individual's career in the securities industry unless the bar is later lifted through a separate application process.

Rule 9552(h) applies specifically to individuals who fail to respond to FINRA's requests for information or who fail to keep their required regulatory filings current. When a registered person receives a notice under this rule, they are given a specific timeframe to comply. If they fail to do so, a suspension is imposed. If the individual continues to fail to comply after the suspension, the matter can be escalated to a bar from the industry.

The requirement to provide information and maintain current filings is a fundamental obligation of securities industry registration. Registered representatives must keep their Form U4 up to date with accurate information about their employment history, disciplinary events, customer complaints, criminal charges, and financial disclosures such as bankruptcies, judgments, and liens. These disclosures serve as a vital source of information for regulators and the investing public.

Brown's bar from the industry underscores the serious consequences that can result from failing to cooperate with FINRA's regulatory processes. Even if an individual has left the securities industry, they remain subject to FINRA's jurisdiction for a period of time and must continue to respond to regulatory inquiries.

Investors should be aware that they can verify the registration status and disciplinary history of any current or former broker through FINRA BrokerCheck. Checking a financial professional's background before entrusting them with your money is one of the most important steps investors can take to protect themselves.

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According to FINRA, Chun Suk Elmejjad (CRD #2508442) of Centreville, Virginia, was barred from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080407901...

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According to FINRA, Chun Suk Elmejjad (CRD #2508442) of Centreville, Virginia, was barred from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080407901).

The bar imposed on Elmejjad represents the culmination of an expedited proceeding under FINRA Rule 9552, which addresses situations where registered persons fail to comply with their information-related obligations. Under this process, FINRA first issues a notice identifying the deficiency and providing a deadline for compliance. If the individual fails to comply, a suspension is imposed. If non-compliance continues, the suspension converts to a permanent bar from the securities industry under subsection (h) of the rule.

Being barred from the securities industry is the most consequential administrative sanction FINRA can impose through this process. It permanently prohibits Elmejjad from associating with any FINRA member firm in any capacity, whether as a registered representative, supervisor, compliance officer, or any other role. This effectively ends the individual's ability to work in the regulated securities industry.

The obligation to provide information and maintain accurate regulatory filings is not merely a bureaucratic requirement; it is a critical component of investor protection. FINRA relies on the information provided by registered persons to conduct oversight, investigate potential misconduct, and maintain the integrity of the BrokerCheck system that investors use to research their financial professionals. When individuals fail to meet these obligations, it can compromise FINRA's ability to protect investors and maintain fair markets.

Elmejjad's case serves as an important reminder that registration in the securities industry comes with ongoing responsibilities that extend beyond simply conducting business. The duty to respond to regulatory inquiries and maintain accurate filings persists as long as an individual is subject to FINRA's jurisdiction.

Investors should make it a regular practice to review their broker's profile on FINRA BrokerCheck, which provides publicly available information about registration status, employment history, and any disciplinary actions or customer complaints. This information can be invaluable in making informed decisions about your financial professionals.

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According to FINRA, Sylviah Kemunto (CRD #7513112) of Maricopa, Arizona, was barred from association with any FINRA member firm on April 1, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023077921401).

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According to FINRA, Sylviah Kemunto (CRD #7513112) of Maricopa, Arizona, was barred from association with any FINRA member firm on April 1, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023077921401).

A bar under FINRA Rule 9552(h) is the final step in an escalating enforcement process designed to compel compliance with information-related obligations. The process begins with a notice of deficiency, followed by a suspension if the deficiency is not cured, and ultimately results in a permanent bar if the individual continues to fail to comply. The fact that Kemunto's case progressed to a bar indicates that she did not respond to FINRA's requests at any stage of this process.

The permanent bar means that Kemunto is prohibited from working in any capacity with any FINRA member broker-dealer firm. This sanction is recorded on her CRD record and is publicly available through FINRA BrokerCheck, ensuring that investors and firms can identify individuals who have been barred from the industry.

FINRA's information-related requirements serve multiple important purposes within the securities regulatory framework. They enable FINRA to conduct examinations and investigations, ensure the accuracy of public disclosure systems, and support the overall mission of investor protection. When registered individuals fail to provide requested information or keep their regulatory filings current, it can hamper FINRA's ability to detect and address potential violations that could harm investors.

The types of information that registered persons must keep current include personal identifying details, employment history, disclosure events such as customer complaints and arbitrations, regulatory actions, criminal matters, and financial disclosures including bankruptcies and judgments. Each of these categories provides important context about the individual's fitness to serve in the securities industry.

Kemunto's case illustrates that FINRA will follow through with the most serious consequences available when individuals refuse to engage with the regulatory process. Investors should take note that a bar from the industry is a significant red flag and should verify that their financial professionals are properly registered and in good standing by checking FINRA BrokerCheck before establishing or continuing a business relationship.

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According to FINRA, Jonathan Mendall Long (CRD #5992305) of Tampa, Florida, was barred from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078681001).
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According to FINRA, Jonathan Mendall Long (CRD #5992305) of Tampa, Florida, was barred from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078681001).

The bar imposed on Long is the most severe sanction available through FINRA's expedited proceeding process and permanently removes him from the securities industry. Under FINRA Rule 9552, when a registered person fails to respond to a notice of deficiency regarding information obligations, a suspension is first imposed. If the individual still fails to comply after the suspension, the matter escalates to a permanent bar under subsection (h). This graduated approach gives individuals multiple opportunities to come into compliance before the ultimate sanction is imposed.

Long's permanent bar means he is prohibited from associating with any FINRA member firm in any capacity. This includes roles as a registered representative, investment adviser representative, supervisor, compliance professional, or any other position within a FINRA-regulated entity. The bar is recorded on Long's permanent CRD record and is visible to the public through FINRA BrokerCheck.

The duty to cooperate with FINRA and provide requested information is a condition of registration in the securities industry that every broker agrees to when they register. This obligation does not end simply because an individual changes firms, leaves the industry, or is the subject of an investigation. FINRA retains jurisdiction over associated persons for a specified period even after they depart from a member firm, and the obligation to respond to regulatory inquiries continues during this period.

Failure to provide information to FINRA is treated seriously because it directly impedes the regulator's ability to fulfill its investor protection mission. Without access to complete and accurate information, FINRA cannot effectively investigate potential misconduct, examine firm operations, or maintain the integrity of the public disclosure system.

Investors are encouraged to always verify the registration status and disciplinary history of anyone offering securities-related services. FINRA BrokerCheck is a free tool that provides this information and can help investors identify individuals who have been barred, suspended, or are otherwise not authorized to conduct securities business.

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According to FINRA, Thomas James Prieur (CRD #4296010) of Penn Laird, Virginia, was barred from association with any FINRA member firm on April 22, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #202307877210...

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According to FINRA, Thomas James Prieur (CRD #4296010) of Penn Laird, Virginia, was barred from association with any FINRA member firm on April 22, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078772101).

The bar against Prieur is the result of FINRA's expedited proceeding process under Rule 9552, which addresses failures by registered persons to comply with their information obligations. This process provides individuals with notice and an opportunity to cure any deficiency before sanctions are imposed. The progression from notice to suspension to permanent bar reflects the seriousness with which FINRA treats these obligations and the repeated opportunities Prieur had to come into compliance before the bar was imposed.

A permanent bar from the securities industry is a significant sanction with lasting consequences. Prieur is now prohibited from associating with any FINRA member firm in any capacity, effectively ending his career in the regulated securities industry. This bar will remain on his CRD record permanently and is publicly accessible through FINRA BrokerCheck, serving as an important disclosure for any future employers or investors who research his background.

The information obligations that gave rise to this action are fundamental to the securities regulatory system. Registered persons must respond to FINRA information requests, maintain accurate and current Form U4 filings, and cooperate with examinations and investigations. These requirements exist because FINRA's ability to protect investors depends on having access to complete and accurate information about the individuals and firms it regulates.

When registered persons fail to meet these obligations, it not only constitutes a violation of FINRA rules but also undermines the transparency that is essential to investor confidence in the securities markets. The public disclosure system that relies on this information helps millions of investors make informed decisions about the financial professionals they choose to work with.

Investors in Virginia and elsewhere should take advantage of free resources like FINRA BrokerCheck to research the background of current and prospective financial professionals. Identifying barred individuals before entrusting them with your assets is a critical step in protecting your financial well-being.

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According to FINRA, Carlos Ramirez (CRD #6749599) of Brockport, New York, was barred from association with any FINRA member firm on April 12, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078158901).

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According to FINRA, Carlos Ramirez (CRD #6749599) of Brockport, New York, was barred from association with any FINRA member firm on April 12, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078158901).

The permanent bar imposed on Ramirez represents the most severe outcome of FINRA's expedited enforcement process under Rule 9552. This process is initiated when a registered person fails to respond to FINRA requests for information or fails to maintain current regulatory filings. After receiving notice and an opportunity to comply, a suspension is imposed for continued non-compliance. If the deficiency remains unaddressed, the suspension converts to a permanent bar from the industry under subsection (h).

Ramirez's bar permanently prohibits him from working with any FINRA member firm in any capacity. This sanction reflects not only the initial failure to provide information or keep filings current but also the continued refusal to engage with the regulatory process through multiple stages of escalation. Each stage of the Rule 9552 process provides the individual with an additional opportunity to come into compliance, making the ultimate imposition of a bar a consequence of sustained non-cooperation.

The importance of information compliance in the securities industry cannot be overstated. FINRA's regulatory framework depends on the willingness of registered persons and firms to provide accurate, timely information. This information supports examinations, investigations, and the public disclosure systems that protect investors. When individuals refuse to participate in this process, they undermine the regulatory infrastructure that maintains confidence in the financial markets.

For investors, the bar of a registered representative should serve as a clear warning signal. Individuals who have been barred from the securities industry are not authorized to sell securities or provide investment advice through FINRA-regulated channels. Any such activity by a barred individual would constitute a serious violation of securities laws.

Investors in New York and across the country should routinely verify the registration status of their financial professionals using FINRA BrokerCheck. This free resource provides detailed information about an individual's registration history, qualifications, and any disciplinary actions, helping investors make well-informed decisions about their financial relationships.

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According to FINRA, Shaquane Smith-Thompson (CRD #7085052) of Jamaica, New York, was barred from association with any FINRA member firm on April 5, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #202307878270...

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According to FINRA, Shaquane Smith-Thompson (CRD #7085052) of Jamaica, New York, was barred from association with any FINRA member firm on April 5, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078782701).

The permanent bar against Smith-Thompson is the final outcome of FINRA's escalating enforcement process under Rule 9552. This expedited proceeding is designed to address non-compliance with information obligations through a graduated series of consequences. Initially, the individual receives a notice specifying the deficiency and a deadline for compliance. Failure to comply results in a suspension, and continued non-compliance leads to a permanent bar from the securities industry.

Smith-Thompson's bar permanently prohibits association with any FINRA member firm in any capacity, including as a registered representative, financial adviser, principal, or in any other role. This sanction is recorded on the individual's CRD record and is publicly available through FINRA BrokerCheck, ensuring transparency for investors and future potential employers in the financial services industry.

The obligations that underlie this action are among the most basic requirements of securities industry participation. Every registered person agrees, as a condition of their registration, to cooperate with FINRA, respond to information requests, and maintain accurate and current regulatory filings. These requirements are not burdensome administrative formalities; they are essential safeguards that enable FINRA to fulfill its mission of protecting investors and ensuring market integrity.

When individuals disregard these obligations, as occurred in Smith-Thompson's case, FINRA is compelled to act decisively to maintain the credibility and effectiveness of its regulatory programs. The permanent bar serves both as a consequence for the individual's non-compliance and as a deterrent to others who might consider ignoring their regulatory obligations.

Investors should understand that a bar from the securities industry is a permanent and serious sanction. Any individual who has been barred and continues to offer securities-related services is acting outside the bounds of the law. Before working with any financial professional, investors should verify their registration status through FINRA BrokerCheck to ensure they are properly authorized and in good standing.

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According to FINRA, Shoaib Qureshi (CRD #6760158) of Centreville, Virginia, was suspended from association with any FINRA member firm on April 19, 2024, pursuant to FINRA Rule 9552(d) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080607001...

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According to FINRA, Shoaib Qureshi (CRD #6760158) of Centreville, Virginia, was suspended from association with any FINRA member firm on April 19, 2024, pursuant to FINRA Rule 9552(d) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023080607001).

FINRA Rule 9552(d) authorizes the suspension of a registered person who fails to comply with information-related obligations after receiving notice and an opportunity to cure the deficiency. Unlike a permanent bar, a suspension under subsection (d) is a temporary restriction that can be lifted once the individual comes into compliance with FINRA's requirements. However, if the non-compliance continues, the matter can escalate to a permanent bar under Rule 9552(h).

The suspension means that Qureshi is currently prohibited from associating with any FINRA member firm in any capacity during the suspension period. This includes activities such as conducting securities transactions, providing investment advice, or performing any other functions that require registration with FINRA. The suspension serves as both a consequence for non-compliance and a strong incentive for the individual to address the outstanding deficiency.

The information obligations that gave rise to this suspension are a core component of the securities regulatory framework. Registered persons must respond to FINRA's requests for information, maintain accurate Form U4 filings, and cooperate with regulatory examinations and investigations. These requirements ensure that FINRA has the information it needs to oversee the industry effectively and that the investing public has access to accurate information about the professionals who manage their money.

Common triggers for Rule 9552 proceedings include failure to update Form U4 with required disclosures such as customer complaints, regulatory actions, criminal charges, financial events like bankruptcies or judgments, and changes in employment. Each of these disclosures provides important information that investors and regulators rely upon to assess the fitness and integrity of securities professionals.

Investors should be aware that a suspended individual is not authorized to conduct securities business during the suspension period. If your financial professional has been suspended, you should verify their status through FINRA BrokerCheck and consider your options for ensuring continued management of your investment accounts.

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According to FINRA, Annie Simons (CRD #7149770) of New York, New York, was suspended from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(d) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078486601).

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According to FINRA, Annie Simons (CRD #7149770) of New York, New York, was suspended from association with any FINRA member firm on April 29, 2024, pursuant to FINRA Rule 9552(d) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078486601).

A suspension under FINRA Rule 9552(d) is an administrative action taken when a registered person fails to comply with information obligations after receiving proper notice and an opportunity to cure the deficiency. The suspension is temporary in nature and can be lifted if the individual comes into compliance by providing the requested information or updating their regulatory filings. However, continued non-compliance can result in the escalation of the matter to a permanent bar from the securities industry under Rule 9552(h).

During the suspension period, Simons is prohibited from associating with any FINRA member firm. This means she cannot engage in any securities-related activities, including executing trades, providing investment recommendations, or performing any other functions that require FINRA registration. The suspension is effective immediately and remains in place until the individual satisfies the outstanding requirements.

The information obligations enforced through Rule 9552 are essential to FINRA's regulatory mission. Registered persons are required to respond promptly and completely to information requests from FINRA, maintain accurate and current Form U4 registrations, and cooperate with regulatory examinations and investigations. These obligations reflect the trust placed in securities professionals by the investing public and the regulatory system.

Form U4 disclosures are particularly important because they form the basis of the information available to investors through FINRA BrokerCheck. When registered persons fail to keep these filings current, the public may not have access to material information about customer complaints, disciplinary actions, criminal matters, or financial difficulties that could affect their decision to work with a particular financial professional.

Investors should understand that the suspension of a registered person is a significant regulatory event that warrants attention. If your broker or financial adviser has been suspended, you should take steps to ensure that your accounts are being properly managed and consider consulting FINRA BrokerCheck to stay informed about the status of your financial professional.

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According to FINRA, Gerald John Cocuzzo (CRD #4047511) of Delray Beach, Florida, was suspended from association with any FINRA member firm on April 19, 2024, pursuant to FINRA Rule 9554 for failure to comply with an arbitration award or related settlement agreement (FINRA Arbitration Case #23-02119)...

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According to FINRA, Gerald John Cocuzzo (CRD #4047511) of Delray Beach, Florida, was suspended from association with any FINRA member firm on April 19, 2024, pursuant to FINRA Rule 9554 for failure to comply with an arbitration award or related settlement agreement (FINRA Arbitration Case #23-02119).

FINRA Rule 9554 provides an expedited proceeding to address situations where registered persons or member firms fail to comply with arbitration awards, settlements, or other monetary obligations resulting from FINRA's dispute resolution process. When an individual fails to pay an arbitration award, FINRA can suspend their registration, effectively prohibiting them from working in the securities industry until the award is satisfied.

The FINRA arbitration process is a critical mechanism for resolving disputes between investors and their brokers or brokerage firms. When an arbitration panel issues an award in favor of an investor, the respondent is obligated to pay that award in a timely manner. Failure to do so not only harms the investor who won the arbitration but also undermines the integrity and effectiveness of the entire dispute resolution system.

Cocuzzo's suspension under Rule 9554 means that he has been found to have an outstanding, unpaid arbitration award stemming from Arbitration Case #23-02119. During the suspension period, he is prohibited from associating with any FINRA member firm in any capacity. The suspension will remain in effect until Cocuzzo satisfies the arbitration award or reaches an acceptable resolution with the claimant.

This type of action is particularly significant for investors because it highlights a situation where an investor successfully pursued a claim through arbitration but the respondent failed to honor the resulting award. The enforcement mechanism provided by Rule 9554 is one of the tools FINRA uses to ensure that successful claimants receive the compensation they are owed.

Investors should be aware that unpaid arbitration awards are disclosed on a broker's CRD record and are visible through FINRA BrokerCheck. Before entering into a relationship with a financial professional, investors should review their BrokerCheck profile to identify any outstanding arbitration awards or other red flags that could indicate a pattern of misconduct or financial irresponsibility.

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